Xenon Pharmaceuticals (NASDAQ:XENE) Receives Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Xenon Pharmaceuticals (NASDAQ:XENE) in a research report released on Wednesday morning,Benzinga reports. HC Wainwright currently has a $53.00 target price on the biopharmaceutical company’s stock.

XENE has been the subject of a number of other research reports. Raymond James reissued an “outperform” rating and set a $50.00 target price on shares of Xenon Pharmaceuticals in a research report on Thursday, October 10th. Cantor Fitzgerald restated an “overweight” rating and set a $65.00 target price on shares of Xenon Pharmaceuticals in a research note on Friday, August 9th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $55.00 target price on shares of Xenon Pharmaceuticals in a report on Tuesday, September 3rd. Wedbush cut their price target on Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Finally, Needham & Company LLC restated a “buy” rating and issued a $60.00 price objective on shares of Xenon Pharmaceuticals in a research note on Wednesday. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $57.45.

Xenon Pharmaceuticals Stock Down 3.3 %

Shares of XENE stock opened at $41.97 on Wednesday. Xenon Pharmaceuticals has a fifty-two week low of $28.10 and a fifty-two week high of $50.99. The stock’s 50-day moving average is $41.11 and its two-hundred day moving average is $40.34.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, beating the consensus estimate of ($0.82) by $0.01. During the same quarter in the prior year, the business posted ($0.73) EPS. On average, research analysts forecast that Xenon Pharmaceuticals will post -3.1 EPS for the current year.

Institutional Investors Weigh In On Xenon Pharmaceuticals

A number of hedge funds have recently made changes to their positions in XENE. Blue Trust Inc. boosted its position in Xenon Pharmaceuticals by 174.7% in the third quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 641 shares in the last quarter. nVerses Capital LLC bought a new stake in Xenon Pharmaceuticals during the 3rd quarter worth approximately $102,000. Mirae Asset Global Investments Co. Ltd. raised its position in Xenon Pharmaceuticals by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company’s stock valued at $106,000 after purchasing an additional 487 shares during the last quarter. Quarry LP increased its stake in shares of Xenon Pharmaceuticals by 207.7% in the second quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company’s stock valued at $156,000 after buying an additional 2,700 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new position in shares of Xenon Pharmaceuticals in the first quarter valued at about $195,000. Institutional investors and hedge funds own 95.45% of the company’s stock.

About Xenon Pharmaceuticals

Xenon Pharmaceuticals Inc, a neuroscience-focused biopharmaceutical company, engages in the development of therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN1101, a novel and potent Kv7 potassium channel opener, which is in Phase 3 clinical trials for the treatment of epilepsy and other neurological disorders.